GIR shareholders will be receiving 1 Zinc Co share for every 4.9 shares held in GIR.
In August / September this year, Zinc Co will then offer its shareholders 25cent options, at a purchase price of 1 cents. For every two ZNC shares you hold, you will receive 1 option.
ZNC shares are worth about 55cents (or about 11 cents for every GIR share). The ZNC options are already 30 cents in the money, so that is an additional 15 cents on ZNC.
Therefore, the current value of ZNC shares to GIR shareholders is about 15 to 20 cents.
News on the Carpentaria IPO, Snake Well gold production, and the Beebyns iron ore deposit are not far away.
Great buying opportunity at low 70's IMO
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